West Bromwich Albion chairman Jeremy Peace has today announced that he has suspended negotiations with the party that were interested in taking over the football club.
In a statement on the official website, Peace said:
“I entered into an exclusivity arrangement in good faith after agreeing terms for the sale but it is now clear to me that this potential purchaser is unable to fulfil the terms of that agreement at this time.
The Club’s long-term stability and continued development is of paramount importance and I am not satisfied that the interests of West Bromwich Albion would have been best served by my continuing discussions at present.”
It’s clear that Peace still wants what is best for West Brom, and isn’t interested in selling to any bidders simply for the sake of money.
During the summer, the management team at Albion have been busy trying to bring in potential transfer targets who will work under boss Tony Pulis, and thye will be hoping to maintain top flight football for the Baggies.
“We have been busy pursuing transfer targets with the determined intention of helping our Head Coach Tony Pulis assemble a squad which he can take into the new Barclays Premier League campaign with optimism.”
With the takeover falling through, the club will not become unsettled. In addition, with people realising that this deal has ended between the two parties, numerous of other potential buyers are increasing their interest, so Peace needs to make sure he’s making the right decision for the club.
“As for the Club’s long-term future, it is true that both before and since the exclusivity announcement was made, other parties have expressed strong interest in a purchase of the club and therefore that process remains ongoing.”
“But not at any point will it be allowed to deflect us from our primary objective of competing in the Premier League in a manner which our supporters demand.“
The bottom line is that West Brom are keen on adding to their squad to ensure they can give the fans the constant top flight football that they want.
The sale of the club shouldn’t effect Pulis’ plans on the pitch, but may help in a positive way because fresh faces coming in may mean more money.
The club as a whole will continue going about their business during the summer, working hard and preparing for the forthcoming season.